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1974. The unemployment rate. Narrator in 2009, wall street bankers were on the defensive. The Great American mortgage bubble had burst. This is a huge amount of money. Narrator the economy was in ruins and wall street bankers were being blamed. Bankers admitted they had miscalculated. But they were also worried that they could be held criminally liable for fraud. He and president obama will continue to work on. Narrator with a new administration arriving in washington, bankers and their attorneys expected investigations and at least some prosecutions. 150 billion in mortgagebacked securities. Smith was there a sense that there were going to be prosecutions of alleged fraud related to the mortgage crisis . I think there was that expectation. I think people had seen the financial crisis. There was obviously a lot of conduct that had gone on that was improper. And i think people were expecting to see some substantial prosecutions. The men and women who duped wouldbe homeowners, who defrau

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